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Binance abandons crypto tokens pegged to listed stocks

Support for stock tokens on Binance will be unavailable by mid-October

Binance CEO Changpeng Zhao said that the firm plans to double the size of its compliance team this year
Binance CEO Changpeng Zhao said that the firm plans to double the size of its compliance team this year Photo: Akio Kon/Getty Images

Cryptocurrency exchange Binance has stopped offering digital tokens tied to the value of listed equities, amid wider regulatory scrutiny of its business.

The tokens are often formatted as fractional units of shares in companies such as Tesla and Apple, which are then bought and sold on Binance’s website.

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